Finland-based Infinited Fiber Co. (IFC), which produces sustainable textile fibres from waste materials, has been able to raise EUR 3.7 million (US $ 4.2 million) in funding from investors including global fashion retailer H&M in order to scale up production at its plants in Finland.
The other investors investing in the project include clean energy company Fortum and Finnish investment firm Virala.
The company currently runs a 50-tonne pilot plant in Finland and plans to increase its annual production capacity to 500 tonnes so as to meet the growing demands from the market.
It has created a closed loop technology that enables cotton-rich textile waste to be used over and over again by making strong, sustainable fibres without compromising on quality and comfort. The manufacturing process also uses materials containing cellulose such as recycled paper, cardboard and agricultural waste like straw.
Petri Alava, CEO, IFC said, “A problem in the textile industry is the growing demand for cotton that simply isn’t available. We have proven that, for example, in denim applications, the commercial quality requirements can be reached with our Infinited Fiber. The global denim industry is pushing us to bring our solutions to the market. Our reborn Infinited Fiber is re-usable forever, carbon neutral and applicable like natural cotton without any microplastics harming the environment.”
According to IFC, properties of the Infinited Fiber are a natural soft look and feel, consistently proven quality, 30-40 per cent better colour uptake than competing fibres, antibacterial and bio-degradable properties and excellent moisture absorption qualities.
Erik Karlsson, Investment Manager for Sustainable Fashion, H&M group’s investment arm CO:LAB, added that “IFC’s innovation aligns perfectly with the H&M group’s sustainability goals and vision to become fully circular.”
Furthermore, earlier this month H&M invested in a digital system that aims to close the loop on every garment. The retailer has also introduced three new sustainable materials including leather alternative Piñatex into its new spring 2019 collection from its eco-friendly conscious exclusive line.